EURJPY Wave Analysis 29 November 2024

– EURJPY broke support zone

– Likely to fall to support level 156.00

EURJPY currency pair recently broke the support zone located between the support level 160.00 and the 61.8% Fibonacci correction of the upward impulse from September.

The breakout of the support level 160.00 accelerated the C-wave of the active ABC correction (2) from the end of October.

Given the clear daily downtrend, EURJPY currency pair can be expected to fall to the next support level 156.00 (which reversed the price sharply in August and September).